Local News
Operating Surplus At Energy SoEs Jumps 37%
Trinidad and Tobago’s non-financial public sector recorded an operating surplus of $1.27 billion during the first eight months of fiscal 2026, almost doubling the $662 million recorded over the corresponding period a year earlier, as improved cash operations among energy state enterprises helped offset weaker balances elsewhere in the public sector.
NEC Recovers US$484,000 Of Well Services Debt
National Energy Corporation of Trinidad and Tobago Limited has recovered US$484,000 of a US$779,619.69 debt owed by Well Services Petroleum Company for its use of berth three and associated marine facilities at the Port of Brighton, La Brea.
Padarath: Govt Won’t Rule Out Privatising SWMCOL
Public Utilities Minister Barry Padarath yesterday refused to rule out privatisation or a public-private partnership for the Trinidad and Tobago Solid Waste Management Company (SWMCOL), saying the state enterprise’s business model must change to reduce its burden on taxpayers.
EY Warns Proposed Tax Changes Could Squeeze Business Profits
Businesses could face higher tax costs and reduced profitability under proposed changes to tax-loss relief and the taxation of payments to overseas service providers in the 2026/2027 national budget, EY tax partner Colin Ramsey has warned.
EximBank Gets New CEO
Tracy Tobias has been formally confirmed as chief executive officer of the Export-Import Bank of Trinidad and Tobago (EximBank), as the stateowned institution enters a new phase of leadership following the departure of former CEO Navin Dookeran last December.
46 Nestlé Workers Sent Some Mid Restructuring Exercise
Sixteen Nestlé Trinidad and Tobago workers have been retrenched while another 30 have accepted voluntary separation packages as the multinational food company moves ahead with restructuring its local distribution operations.
CSO: T&T’s GDP Drops 1.8% In First Quarter
Trinidad and Tobago’s gross domestic product (GDP) in constant prices declined by 1.8 per cent in the first quarter of 2026, compared to the same period in 2025.
Focus On Recovery, Not Recession, Economists Argue
Trinidad and Tobago’s economic outlook, the Government’s fiscal
constraints and unresolved public service backpay obligations are coming under scrutiny as economists and a former minister in the Ministry of Finance weigh in on whether the country’s recession should be the central concern.
Shell’s Manatee Platform Arrives In T&T
The topside for Shell’s Manatee gas project has arrived safely in Trinidad and Tobago, bringing the offshore development another step closer to its planned 2027 start-up. T
Regional News
Guyana-Brazil Trade Reaches US$800M In First Eight Months Of 2026
Trade between Guyana and Brazil reached approximately US$800 million in the first eight months of 2026, representing a 25 per cent increase compared with the same period last year, as the neighbouring country seeks to improve air and road connectivity, agricultural development and stronger trade arrangements.
ICAB: VAT Delay Leaves Businesses In Limbo
Uncertainty over the government’s delay in raising the threshold for valued added tax (VAT) registration is making it difficult for businesses to plan their finances and operations, the Institute of Chartered Accountants of Barbados (ICAB) said.
Latin America And The Caribbean Urged To Take Ownership Of AI
The Economic Commission for Latin America and the Caribbean (ECLAC) says in an international landscape in which technological capacities are taking on increasing weight for competitiveness and development, Latin America and the Caribbean (LAC) must move forward with taking ownership of artificial intelligence to meet its main challenges.
Guardian Starts Restructuring Group
Guardian Holdings Limited (GHL) has begun reorganising ownership interests within its group after receiving initial regulatory clearance for a restructuring designed to separate its financial and non-financial businesses.
Fresh Food Price Threat Looms
Jamaica could face further pressure on food prices as the International Monetary Fund (IMF) forecasts another two years of increases in global food costs, at a time when the country’s agricultural sector is still struggling to recover from Hurricane Melissa.
Prices Rising Sharply In Caricom, Says SG
The Caribbean Community (Caricom) Secretary General, Dr Carla Barnett, says much of the multi-billion US dollar export growth in the region has been driven by energy and commodities and that the regional integration grouping continues to import a large share of its food, manufactured goods and capital equipment.
Two Canadian Airlines Eye Direct Flights To Guyana
At Least two Canadian airlines have expressed serious interest in introducing direct flights to Guyana, with the carriers already indicating possible commencement dates, Minister of Public Utilities and Aviation Deodat Indar disclosed on Monday.
Firms To Decide Whether To Remain VAT-Registered
Businesses must continue to register for value-added tax (VAT) once their annual turnover exceeds $200 000, despite a promised increase to $350 000 that was due to take effect on October 1. Finance Minister Ryan Straughn also warned that businesses which opt out of VAT registration once the threshold is raised must stop charging the tax to customers.
Regional Partners Eye Stronger Trade, Investment Ties With Guyana
Guyana’s investment and partnership opportunities were among the main highlights as regional leaders and diplomatic representatives at the World Trade Centre Georgetown’s International Trade and Investment Conference on Monday called for stronger trade while pinpointing openings in agriculture, manufacturing, transportation, logistics and regional supply chains.
International News
P&G Beats Estimates As Price Hikes Haven’t Hurt Demand Yet
Procter & Gamble’s (PG) price hikes aren’t crushing a consumer base dealing with higher inflation, yet. The Tide maker delivered sales and profit upside for its fiscal first quarter on Thursday. The company maintained its full-year sales and profit outlooks.
Lockheed Martin Raises Outlook On Robust Demand For Missiles
Lockheed Martin Corp. lifted its full-year outlook as the company’s missile systems portfolio was buoyed by rising global defense spending.
Alibaba Shares Post Steepest Drop In Two Months On China Curbs
Alibaba Group Holding Ltd.’s (BABA) shares suffered their steepest decline in two months after Chinese authorities summoned e-commerce operators and called for tightening product-quality standards and strengthening consumer protection.
Tech Slide And Oil Rally Spur Flight To Treasuries
Stocks slid in a broad retreat from riskier assets as a slate of technology earnings fell short of elevated expectations and escalating hostilities in the Middle East pushed oil prices higher. Treasuries rallied on haven demand.
UK Inflation Rise To Highest In Almost A Year As Iran War Drives Fuel Prices Higher
Inflation in the U.K. rose to its highest rate in almost a year as the Iran war continues to ratchet up fuel prices, official figures showed Wednesday, cementing market expectations that the Bank of England will raise interest rates next month.
Samsung, SK Hynix Upgrading China Plants To Make More Advanced Chips,
Samsung Electronics and SK Hynix are upgrading their China factories to produce more advanced memory chips, four people familiar with the plans said, aiming to fend off competition from a fast-growing Chinese rival and meet huge AI demand.
Stocks Climb As SpaceX Results Reignite AI Trade
US stock futures rose after strong results from SpaceX eased concerns over whether a global investment spree in artificial intelligence can prove sustainable.
Nscale, Anthropic In Talks For $45 Billion Cloud Computing Deal
Nscale Ltd., the AI cloud computing firm, is in talks to sell computing power to Anthropic PBC (ANTH.PVT) in a deal that could be worth about $45 billion, according to people familiar with the negotiations.
Gold Eases As Higher Oil Prices Stoke Inflation Concerns
Gold edged lower on Tuesday as rising oil prices stoked inflation concerns, with investors looking to next week’s Federal Reserve meeting for clues on the US interest-rate outlook.
Reports
Local Fixed Income Report: Q3 2026
Local Equity Report: Q3 2026
US Rate Watch SEPT2026
On September 16, 2026, the Federal Open Market Committee (FOMC) raised the federal funds target range by 25 basis points to 3.75% – 4.00%. This decision was aligned with the Federal Reserve’s dual mandate of achieving maximum employment and price stability.
Sheppard Joins the Eastern Caribbean Securities Exchange as Member Broker-Dealer
Sheppard Investment Services Limited has been admitted as a licensed member Broker-Dealer of the Eastern Caribbean Securities Exchange (ECSE), further strengthening Sheppard’s presence and capabilities within the Eastern Caribbean financial market. Based in Saint Lucia, Sheppard will now operate as one of nine licensed ECSE member Broker-Dealers serving the Eastern Caribbean Securities Market. As an ECSE Member Broker-Dealer, Sheppard is authorised to facilitate the purchase and sale of securities listed on the ECSE, providing clients with greater access to investment opportunities across the Eastern Caribbean Currency Union (ECCU). The admission represents an important step in Sheppard’s continued regional growth and its commitment to expanding access to professional investment services and financial solutions throughout the Caribbean. In announcing the ECSE’s newest members, Stewart Haynes, Chief Executive Officer of the ECSE, welcomed Sheppard to the exchange, noting that the addition of new market intermediaries strengthens the ECSE’s distribution network and supports its goal of creating a more accessible, inclusive and resilient regional capital market. The ECSE plays a central role in the development of the Eastern Caribbean capital market, providing a regulated marketplace through which investors can access securities while businesses and governments can raise capital to support growth and development. For Sheppard, membership in the ECSE creates further opportunities to connect clients with regional investment markets while supporting the continued development of the Caribbean’s financial sector. About Sheppard Investment Services Limited Sheppard Investment Services Limited provides investment and wealth management solutions to clients located in Saint Lucia and the wider Caribbean, supported by the experience and capabilities of the Sheppard Group.
Economic Outlook – AUG 2026
Global growth is expected to remain moderate but uneven across regions in 2026 as geopolitical tensions, elevated uncertainty, and tighter financial conditions weigh on activity. Trade and investment activity are also likely to remain subdued amid continued volatility and uncertainty, with economies benefitting from technology investment and those exposed to energy shocks the most impacted. Inflation is expected to remain above target for longer in many economies as higher energy and commodity prices have stalled the disinflation process. Further to this, renewed U.S.-Iran tensions have increased upside risks to inflation and downside growth risks, although continued investment and a normalization in trade activity could provide some support. We remain attentive to developments that could affect the balance of risks to the outlook.
Earnings Update – AUG 2026
August earnings remained mixed across sectors amid ongoing operational and economic challenges. Among the banking and financials First Citizens Group Financial Holdings (FCGFH) and NCB Financial Group (NCBFG) underperformed relative to their peers, reporting declines in profit for the period. First Citizens’ results were weighed down by rising funding costs, tightening liquidity conditions and the commercial asset levy, despite resilience in its core operations, while NCB’s earnings were impacted by lower gains on foreign currency and investment activities as well as the absence of one-off gains recorded the year prior. ANSA Merchant Bank Limited (AMBL), meanwhile, recorded double digit growth in profit, with pre-tax income rising 32%, driven primarily by growth in the Banking and Wealth Management segment. JMMB Group Limited’s (JMMBGL) earnings were also lifted, having benefitted from an increased share of profit from associates, namely Sagicor Financial Company.
Local Fixed Income Report – July 2026
The fixed income market in H1 2026 was characterized by shifting yield curve dynamics, resilient investor demand, and muted primary market activity. Government, quasi-government and corporate issuance remained concentrated in a relatively small number of transactions, while lower system liquidity contributed to higher yields across the curve year-on-year. Excess reserves declined to TT$4.25 billion from TT$5.33 billion at the start of the year, reflecting tighter liquidity conditions.
Local Equity Report – July 2026
S&P Reaffirms T&T Rating, Outlook Unchanged
In July 2026, S&P Global Ratings reaffirmed Trinidad and Tobago’s BBB-/A-3 sovereign credit ratings while maintaining its negative outlook. The country’s investment-grade status was preserved but the rating agency signalled that credit risks remain elevated.